Human Resource Management and Workforce Planning at Best Buy

This report provides an in-depth analysis of Best Buy's human resource management practices. It begins with an introduction to human resource management and its key functions, followed by an examination of the effectiveness of workforce planning and HR metrics groups within the company. The report delves into the benefits of employing such groups, both for Best Buy and contemporary organizations, highlighting the role of HR metrics in data analysis and innovation. It then evaluates Best Buy's approach to reducing employee turnover, focusing on hiring practices, training, and feedback mechanisms. The report identifies areas where Best Buy excels in its HR management, such as its workforce planning and problem-solving networks, while also suggesting areas for improvement, particularly in addressing employee turnover and recruitment challenges. The report also evaluates the impact of these initiatives and considers the opportunities and strategies for expanding into the European market. The conclusion summarizes the key findings and recommendations, providing a comprehensive overview of Best Buy's human resource management strategies.

Managing the
Human Resource
Best Buy

Table of Contents
• Introduction
• Main body
• Effectiveness of workforce planning and HR metrics group
• Benefits of employing such a group in Best Buy and in contemporary organizations
• Evaluation of best buy's approach to reduce turnover
• Areas in which the Best Buy’s doing well
• Improvisation
• Evaluation of improvisation
• European market
• Conclusion
• References

INTRODUCTION
• Managing human resource means the function which is performed by the
manager which is related to the organization's workforce.
• Human resource management include staffing, motivation, training and
development etc.
• Best buy is the well-known supermarket of UK with having branches in UK
and Europe.
• This report will discuss the effectiveness of workforce planning and HR
metrics group and along with benefits of employing such group in the
company.

Effectiveness of workforce planning and HR
metrics group
• Workforce planning means analysing and planning related to workforce
demand and supply and doing effective talent management.
• The main aim is to make sure that right person is employed for the
right position having right skills.
• Through workforce planning manager plan for many things like
retirement, recruitment etc.
• Workforce planning help in retaining the employees and also help to
identify that in future who can leave the company is order to train for
replacement.

Cont…
• HR metrics is used to measure the effectiveness of HR responsibilities which
include hiring, training and development, labour costs etc.
• HR metrics can also be used to improve the efficiency and do value of activities.
• They are responsible for employee happiness and provide them good working
environment.
• If employee work happily then that will motivate him and which will increase the
productivity. It is also used to understand HR specific data in the organization.

Benefits of employing such a group in Best Buy
and in contemporary organizations
• HR metrics help the managers to crunch the data and bring innovations in workforce planning.
• By employing this best buy can create better incentive programmes as it determines that how bonus is translated into
retention or performance.
• It facilitates in making real change in the culture of the company. Best buy identify their employees and gather
information to use in future so that can build strong culture and best recruitment rules.
• Improvement in employee engagement as the company have such work environment which increases employee
involvement in the company and gives better performance.

EVALUATION OF BEST BUY'S APPROACH
TO REDUCE TURNOVER
Hire the right people
• As per the case study it has been found that, HR of best buy's is facing
issue in the recruitment supermarket bakers, the main reason behind
this issue is employee turnover, people don't stay for long in this
position.
• To overcome this, HR should hire the right people and make sure that
thy do not leave the position.
• Except this HR should clearly define the role to the candidate like what
they have to do after getting selected in the company, and after
getting sure that the candidate is suitable for the job.

Cont..
Provide training and development
• After providing proper training and education, HR can reduce the staff
turnover because technology is getting changed so it is not easy for the
employees to cop up with the trend, so it can be a reason to leave the job.
Get feedback
• To know the main reason behind the employee turnover it is must that the
HR should collect feedback from the employees, to know at which place they
are facing issues.
• May be they are not happy with the work or, it can be possible that the
employee are not getting growth opportunities and it can be possible that
they are not happy with salary.

Areas in which Best Buy's doing
well
• The workforce planning of the and HR metrics is
good in the company.
• Apart from this, all the member of workforce
planning have deep knowledge and have
experience as well.
• Best- Buy also have a proper problem – solving
network which going well in company, and best
buy is also taking advantage of this.
• So all these things are going well in the
organisation.

Improvisation
• Best buy need to improve the issue of employee turnover in their
organisation as there is the main issue which the company is facing.
• Apart from this, the HR of the organisation is finding difficulty in recruitment
of super market bakers and they have to relay on agency workers.
• In this area HR of Best Buy need to improve and they have top recruit right
candidate so that they do not leave the organisation and the organisation
do not have to compromise with the work.
• Except this, the HR could collect data of its potential buyers and let them
know about the various information and discount offers which the company
is offering to them so that they can recall their past customers and increase
the sales and revenue of the company.

Evaluation of initiation
• The evaluation works ion the favor of the
company as the employee turnover got
reduced.
• Apart from this ore employees has joined
the organization, this will be helpful for the
company tom reduce the employee
turnover so overall the initiative works for
the benefit of the company.

European market
• Best buy is UK based supermarket and also having presence in the main land
Europe.
• To expand the business in European market, Best Buy need to do strong marketing
and promotion of their products son they may get the attention of many people at
the same time.
• To earn the customer of Europe, this company need to work on digital market as
well, this company has to be active on digital platform so that , this company may
give strong competition to other business and companies.
• So the European market could be a better opportunity for Best Buy as the people
are already aware about the products, only the company need to do marketing
and promotional activities son that people get to know the benefits and feature of
their products.

Conclusion
• After analyzing the entire report it can be concluded that, this report states about managing
human resources.
• This report has includes effectiveness of workforce planning apart from this, HR metrics is also
mentioned in this report.
• Apart from this approaches to reduce employee turnover has also being mentioned in this
report.
• Areas in which the company is doing well is being mentioned in this report.
• This report also speaks about the areas in which the company need to do improvisation has
been mentioned.
• How's the European market for the company and its product have been mentioned in this
report.

REFERENCES
Books and journals
• Willis, G., Cave, S. and Kunc, M., 2018. Strategic workforce planning in healthcare: A multi-methodology approach. European Journal of
Operational Research. 267(1). pp.250-263.
• Sparkman, R., 2018. Strategic workforce planning: Developing optimized talent strategies for future growth. Kogan Page Publishers.
 Lawler, E., 2020. HR Metrics and Analytics: Effectiveness. In Effective Human Resource Management (pp. 85-92). Stanford University
Press.
 De and et.al, 2019. The impact of employee turnover and turnover volatility on labor productivity: a flexible non-linear approach. The
International Journal of Human Resource Management. 30(21). pp.3049-3079.
 Fink, A.A. and Sturman, M.C., 2017. Hr metrics and talent analytics. The Oxford Handbook of Talent Management, pp.375-390.
 Malek and et.al, 2018. The impact of manager training on employee turnover intentions. Journal of Hospitality and Tourism Insights.
 Santhanam and et.al, 2017. Impact of human resource management practices on employee turnover intentions. Journal of Indian
Business Research.
 Zhao and et.al, 2018, September. Employee turnover prediction with machine learning: A reliable approach.
In Proceedings of SAI intelligent systems conference (pp. 737-758). Springer, Cham.